Stochastic control for economic models: past, present and the paths ahead

Article Abstract:

A study on the potential application of stochastic control methods to economics, its past, present and future is presented. The events surrounding some of the key developments of the past are described along with a discussion of the present state of the research and of paths for future research. The study also throws light upon the primary methods such as loop, classical control, etc that are used for solving quadratic-linear economic stochastic control models and includes a discussion on the software development in economic stochastic control modeling.

United States, Science & research, Research, Learning models (Stochastic processes), Stochastic processes, Stochastic models

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Active learning: a correction

Article Abstract:

The Abel Model had some error in the calculations of contributions and the changes are derived in the measurement error section of the passive learning part of the adaptive control code, called DUAL. The first table is required to have an active learning with a mean equivalent to 11433.30 and a standard error of 104.86, the passive learning on the other hand should have a mean value of 11523.87 and a standard error of 104.24. The certainty equivalence should have a mean of 11638.43 and a standard error of 104.44.

Models, Learning, Teaching models, Correction Notice, Adaptive control

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Migration of the Lucas critique with stochastic control methods

Article Abstract:

This paper proposes a model which leads to optimal economic policy in the presence of parameter drift.

Netherlands, Methods, Usage, Stochastic analysis, Macroeconomics, Mathematical optimization, Optimization theory

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